Health Insurance Companies In India

Health insurance is one of the new concepts in India which only originated few years back. Health insurance was only provided to government employees previously, from which they got reimbursement of medical expenses. But now the private companies are joining hands with health insurance companies in India to cover the money invested by the employee for their protection as well as their families from illness. Insurance companies play a good role in helping the people to cover their losses to an extent by providing health insurance as well as life insurance. With the help of health insurance companies one can save their hard earned money for their future use and thus save it.

We can say that the insurance companies have taken a prominent position in the lives of many. With the increasing number of health insurance companies in today’s market, we can find that they all are competing among each other to gain top place by providing good quality schemes, protection as well as better services. Nowadays, in India there are a wide variety of health insurance companies with a wide variety of policies and schemes to choose from according to their needs. The main costs covered by these health insurance schemes are hospitalization costs, domiciliary treatment costs as well as the costs of medicines and tests. There are some health insurance companies which provide schemes where they pay the insured a fixed sum of money on a weekly basis while they are hospitalized. Some of the top health insurance companies in India are provided below.

The first health insurance company to be talked about is the National Insurance Co. Ltd. This company mainly serves the needs of most businesses in India. This insurance company can guarantee their clients with financial securities by the various bonds they hold with commercial banks, automobile manufacturers, NGOs, government agencies and non-banking financial institutions, with its total insurance plans of 180 in number.

The next insurance company that comes to our mind is the name of the largest banking network in India, i.e. SBI Life Insurance Co. Ltd. SBI Life Insurance has a venture with the State Bank of India and Cardiff SA of France. There are about 14,000 SBI banking network branches around the world.

Earlier life and health insurance in India have been provided by LIC only, but now there are a number of private companies available in the market which increased the competition in this industry and ultimately benefited the customers, as the insurance companies which provide the maximum premium and tax rebate is preferred by the customers. Some of the major health insurance companies available in the market other than the ones said above are Bajaj health insurance, max health insurance, reliance insurance companies etc.

With the advent of overseas players, the health insurance sector has become very lively. The competition in this field resulted in the floating of various health insurance schemes, with different premium rates in relation with the age and the requirements. We can also see the slow development of cashless health insurance companies. Several hospitals and clinics have started accepting patients under the cashless health card schemes. The hassles during the claim procedures and the paper works have been reduced considerably nowadays.

We can thus conclude that the health insurance companies in India are competitive as well as successful. We can also say that as time goes by there will be more and more health insurance companies available in the market.